Nevertheless, short-time working means the continuation of the employment relationship between the employee and the employer, and there is nothing in the way of loan approval for a credit inquiry. However, rating the credit rating could be a reason for refusing a loan request. The short-time working allowance means a lower net wage, which leads first to the fact that the worker could get into a possible financial imbalance.
Although this financial imbalance could only be short-lived, this gap can be closed with great difficulty the longer the short-time work takes. A loan could remedy this situation in order to maintain the liquidity of the employee. However, in the review of the credit rating of a loan despite short-time working, the financial situation in the comparison of the income and the monthly costs could lead to a negative result.
Possibilities of borrowing during short-time work
In the case of short-time working, there is still an employment relationship that would have to lead to a commitment in the event of a loan request in this phase. Creditworthiness could be negatively impacted by lower income if liquidity could be extremely narrow. As a rule, the inquire with the house bank regarding an increase in the collection loan would be a sensible consideration, because the repayment of the granted disposition frame can be carried out flexibly by you.
An overdraft means much higher interest rates and a temporary tolerance of the overdraft. Decisive for credit inquiries at the house bank is the assessment of the course of the account transactions. A loan in spite of short-time working is also possible in the form of an installment loan if the credit rating is assessed as sufficient.